Question: What is the estimated GDP growth rate of India in the CY2022, as per Moody’s?
(a) 7.5%
(b) 8.3%
(c) 9.2%
(d) 9.5%
Answer: (d)
Related Facts:
- Agency Moody’s revised India’s economic growth estimates in CY2022 upwards to 9.5 per cent from 7 per cent on stronger than expected recovery after lockdown in 2020 and Covid-19’s Delta wave in 2021.
- It maintained a forecast for 5.5 per cent growth in CY2023.
- In its update on Global Macro Outlook 2022-23, Moody’s said sales tax collection, retail activity and Purchasing Managers Index suggest solid momentum. However, high oil prices and supply distortions remain a drag on growth for India.
- The speed of the recovery from the first lockdown-led contraction in Q2CY2020, and subsequently in Q2CY2021 during the Delta wave, was stronger than expected.
- The economy is estimated to have surpassed the pre-Covid level of GDP by more than 5 per cent in the last quarter of CY2021.
- CY2022 stands for the Calendar Year 2022.
BY: AMIT GUPTA